The Iran war: where next for aviation?
Two months into the Iran war, airlines are moving from crisis response to strategic adjustment. Getting through the summer without running out of fuel may be the immediate task. Deciding what to do with winter capacity will be the next challenge.
Dissecting Virgin Atlantic’s 2025 Results
Virgin Atlantic released its 2025 results last week. Last year, it managed to record a small underlying profit, but slipped back into losses again this year. With the industry facing a challenging 2026 due to the war in Iran, what do the results tell us about the health and resilience of the business?
Comparing the fuel efficiency of the world’s airline fleets
With jet fuel prices still inflated by the war in the Gulf, airlines with more fuel efficient fleets are better placed to withstand the pricing shock. Which global airlines are in the best positions and who will be under more competitive pressure?
Assessing the hit to airline valuations from the Iran war
With airline valuations taking a pounding from the war with Iran, I took a look at which airlines had been hardest hit and tried to make sense of the differences.
End of year round up
How did 2025 go for the airline industry? What will be the top issues in 2026? "OK" and "who knows?" are the short answers, but I've attempted a more comprehensive version here.
A financial health check on the big three European network airline groups
The third quarter results are now out for all the big three Western European network airline groups. How did they stack up against each other, and what do they tell us about the relative financial health of the three companies?
The growing cost of airline emissions in Europe
Whilst jet fuel prices have been falling recently, European airlines face growing emissions charges as free allowances are phased out. Which airlines will be most affected? And what are the longer-term implications of growing emissions costs?
Comparing the balance sheets of IAG and Air France - KLM
Both IAG and AF-KLM are focusing on improving their balance sheets, after the ravages of COVID. Which company has the most work to do?
A roundup of post-pandemic European airline results
The year to March 2023 is the first relatively "clean" twelve month period since the pandemic. Now that we have the numbers from all the big players, what do they tell us about who has emerged as the biggest, and who is doing the best?
Another £342m of pre-tax losses at Virgin
Virgin Atlantic reported its sixth straight year of losses in 2022. How did the £342m pre tax loss compare to rival BA? And how well is Virgin set up to achieve its goal of delivering sustainable profitability in the future?
IAG full year results
IAG reported its first full year profit for three years last week, with operating profits of €1.2 billion and a pre-tax profit of €415m. How did the results compare to European peers? Which airlines within the group did best? And what other interesting nuggets of information were buried in the small print?
Ryanair’s aircraft cost advantage
How much does Ryanair pay for its aircraft? And can it maintain the cost advantage its past deals have given it going forward?
Assessing Q3 performance from the European LCCs
Ryanair reported bumper profits of €1.4 billion for its September quarter yesterday. How well did its results stack up against the other European low-cost airlines?
The impact of higher fuel and emissions costs on air fares and demand
Will higher fuel and emissions costs be passed on to customers in higher fares? If so, what will be the consequences for demand, capacity and market share?
Lies, damn lies and statistics
Ryanair and Wizz claim to have “industry leading” seat factors. Is that really the case, or is it just down to differences in the way they report the figures?
A performance comparison of the European LCCs
Back in 2020, I analysed the relative performance of the three big European low-cost carriers in the final 12 months before the pandemic hit. With all three having now reported figures up to March 2022, I revisited my analysis to see what had changed.
European airline winners and losers from the pandemic
As the fog starts to clear on the airline recovery, which airlines are emerging from the pandemic as winners and how well did market analysts do early on in predicting who that would be?
A not quite end of year review
As we approach the end of what has been another eventful year for the aviation industry, I reflect on how things have turned out compared to my expectations at the end of 2020.
European airline CEO pay in 2020
After the worst year in history for European aviation, with plenty of pain to be shared all around, how did the airline bosses do last year?
Another set of Virgin Atlantic accounts
Only four months after the publication of their 2019 accounts, Virgin Atlantic have filed their 2020 figures. What do they show and how do they compare to those at arch-rival British Airways?